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Learn fundamental accounting concepts and practices through a comprehensive course covering Generally Accepted Accounting Principles (GAAP), double-entry bookkeeping, and financial statement preparation. Master the accounting cycle from recording transactions using T-accounts and general ledgers to preparing trial balances and adjusting entries for deferrals and depreciation. Explore merchandising operations, inventory costing methods including cost flow assumptions, and both manual and computerized accounting systems. Develop expertise in internal control procedures, cash management, and accounts receivable including direct write-off and allowance methods for uncollectible accounts. Study long-term assets including depreciation methods, natural resources, and intangible assets, while gaining proficiency in current liabilities, payroll processing, and contingent liabilities. Examine advanced topics such as time value of money, bonds payable accounting, and investment securities including debt and equity investments. Understand different business structures from proprietorships and partnerships to limited liability companies, including partnership accounting and liquidation procedures. Analyze corporate accounting including stockholders' equity, stock transactions, dividends, stock splits, and treasury stock. Learn to prepare and interpret cash flow statements using both direct and indirect methods, and perform financial analysis using horizontal and vertical analysis techniques, liquidity ratios, profitability measures, and accounts payable turnover calculations.
